All text is blurry, but sometimes is kinda crisp (but not fully) then goes really blurry again. Here is a screenshot when I was writing this. It also happens in the UI, such as the tabs and address bar, and even the icons to the sides of it.
Version 22.214.171.124 (Official build) canary (64-bit)
There's a whole lot of crap going on with Chromium for months now, and it seems no one is bothered to fix it.
Your example is just a more extreme manifestation of it.
Font rendering problems like this happen over multiple Chromium based apps for a while now, they start to manifest typically after a bit of runtime. If you're lucky, Chromium Edge goes completely haywire by blending random textures into the viewport (seems to be a compositing problem, since complex websites exacerbate the issue typically).